City Council approves framework for $321 million Railyards soccer stadium and entertainment venue
Sacramento (Nov. 13, 2024) - The Sacramento City Council Tuesday unanimously approved a preliminary term sheet for an estimated $321 million in private investments to build a soccer stadium for Sacramento Republic FC and a live entertainment venue in The Railyards.
“We are breaking barriers and making history here in Sacramento,” said Mayor Steinberg. “Wilton Rancheria is the first tribe to own a professional men’s sports team in North America, and the projects in The Railyards will double the size of the central business district—what an incredible opportunity! This is the foundation for something beautiful today that will become even more beautiful in the years and decades to come.”
The term sheet sets the foundation for future agreements and City approvals on the expansion of the district, design and construction of the stadium and entertainment venue. It also includes community benefits, such as youth programs, community fields, and public access to facilities.
“This approval is a pivotal first step in in this multi-phase approval process to transform the Railyards into a destination that will benefit all Sacramentans,” said City Manager Howard Chan. “We’re grateful for the support of our partners and the leadership of our elected officials, whose dedication has helped bring this vision closer to reality.”
The planned developments include:
Soccer stadium and adjacent development: Sacramento Republic FC, through Indomitable LLC, will finance and build a 12,000-seat stadium with supporting infrastructure. This privately funded $226 million project includes all aspects of design, construction, maintenance and infrastructure.
Live entertainment venue: Developer Downtown Railyard Venture (DRV) will transform the existing historic buildings in The Railyards, specifically the Paint Shop building, into a 3,600-seat venue with $95 million in private funding.
The new stadium will be supported by the Wilton Rancheria Tribe, who last week became majority owners of Sacramento Republic FC.
The stadium is projected for completion by late 2026, and the entertainment venue by 2027.
Read more about the planned developments here: Sacramento Announces Plan for Soccer Stadium and Entertainment Venue in The Railyards
